NIQS develops cost reduction measures
By Owoleye Oluwakayode
The Nigerian Institute of Quantity Surveyors (NIQS) said it has developed measures to help operators in the built environment optimise their cost during the construction of projects.
The President, NIQS, Abba Tor, said this during a press briefing, stating that the initiative would largely benefit operators who handled projects of lower size and complexity.
According to the NIQS president, the value of Bills of Quantities is majorly restricted to the formal sector of the construction industry. Most participants involved in projects of lower size and complexity lament about the pains in identifying and analysing actual resources (materials, labour and plant) required for their projects.
Moreso, resource scheduling tool is meant to conclusively address and resolve such challenges. Cost management of construction works in the informal sector requires a simple and reader/user friendly instrument or tool.”
Tor added, “NIQS is therefore set to further deepen its contribution to national development through a new initiative targeting the informal construction sector.
“This initiative will deliver direct benefits to individuals and managers handling projects of lower size and complexity through provision of resource scheduling services by quantity surveyors.
The initiative, he added, would mainstream resource scheduling tool as a regular component of quantity surveying service offerings.
The NIQS president said that the initiative would ensure proper planning and effective deployment of scarce resources by clients engaged in carrying out projects, especially in the informal sector.
Tor explained that the service offering was more critical now than ever before as prices of construction materials had kept on increasing unabatedly.
He stated that upon critical evaluation of the mentioned challenges, it was important for quantity surveyors who were experts and professionals equipped with technical know-how on costing and cost management of construction projects to step in.
